Section 1038.209 - Use of Bond Proceeds The district may use the proceeds of bonds issued under this subchapter to pay:
(1) any expense the board determines is reasonable and necessary to issue, sell, and deliver the bonds;(2) interest payments on the bonds during a period of acquisition or construction of a project or facility to be provided through the bonds, not to exceed five years;(3) costs related to the operation and maintenance of a project or facility to be provided through the bonds: (A) during an estimated period of acquisition or construction, not to exceed five years; and(B) for one year after the project or facility is acquired or constructed;(4) costs related to the financing of the bond funds, including debt service reserve and contingency funds;(5) costs related to the bond issuance;(6) costs related to the acquisition of land or interests in land for a project or facility to be provided through the bonds; and(7) costs of construction of a project or facility to be provided through the bonds, including the payment of related professional services and expenses.Tex. Spec. Dist. Loc. Laws § 1038.209
Added by Acts 2007, 80th Leg., R.S., Ch. 920, Sec. 1.02, eff. 4/1/2009.